Current Affairs 22nd June 2016 - Banking, SSC, UPSC Affairs

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A new superfast intercity express train between Vijayawada and Secunderabad with just one stop was launched on 20 June 2016, mainly to facilitate travel of Andhra Pradesh Government employees to the new capital region from Hyderbad.
Railway Minister Suresh Prabhu and Chief Minister N Chandrababu Naidu tonight flagged off the train, the first-ever single stop superfast service between Secunderabad and Vijayawada and non-stop between Guntur and Secunderabad.
This train, which runs six days a week, has been introduced primarily for the convenience of Government employees commuting between Vijayawada and Hyderabad (and its twin city Secunderabad) during the transition period when the State Departments are being shifted to the new capital region (located between Vijayawada-Guntur).
The train, running from Monday to Saturday, will cover a distance of 351km between the two cities in less than 6 hours.
Prabhu and Naidu also laid the foundation stone, through a remote video link, for the doubling of existing rail line between Guntakal and Kalluru in Anantapuramu district.
The project, which also includes electrification of the tracks, is being taken up at a cost of Rs 323 crore to ease congestion and enhance section capacity. The doubling will facilitate fast movement of freight and passenger traffic on the busy Mumbai-Bengaluru line.

The Union Cabinet has approved the establishment of Fund of Funds for Startups (FFS) on 22 June 2016. The establishment of the fund is in tune with the Start up India Action Plan that was unveiled in January 2016 to boost start up ecosystem in the country.
Features :
Beneficiaries : It will be utilised for contribution to various Alternative Investment Funds (AIF), registered with Securities and Exchange Board of India (SEBI) which would extend funding support to Startups.
Resource allocation : It has a corpus of 10000 crore rupees which shall be built up over the 14th (2015-20) and 15th Finance Commission (2020-25) cycles subject to progress of the scheme and availability of funds.
An amount of 500 crore rupees has already been provided to the corpus of FFS in 2015-16 and 600 crore earmarked in the 2016-17.
Further provisions will be made as grant assistance through Gross Budgetary Support by Department of Industrial Policy and Promotion (DIPP).
The 10000 crore rupees corpus could potentially be the nucleus for catalyzing 60000 crore rupees of equity investment and twice as much debt investment.
This would provide a stable and predictable source of funding for Startup enterprises and thereby facilitate large scale job creation.
Employment : On full deployment, the Fund is expected to generate employment for 18 lakh persons on full deployment.
Execution : The expertise of the Small Industries Development Bank of India (SIDBI) would be utilized to manage the day to day operations of the FFS.
Monitoring : The DIPP will monitor and review performance of the fund in line with the Start up India Action Plan.
The monitoring and review of performance would be linked to the implementation of the Start Up Action Plan to enable execution as per timelines and milestones.
Fund of Funds for Startups was established : For India, accelerating innovation driven entrepreneurship and business creation through Start-ups is crucial for large-scale employment generation.
The NITI Aayog-appointed Tarun Khanna Committee on Innovation and Entrepreneurship opined that India has the potential to build about 2500 highly scalable businesses in the next 10 years.
Given the probability of entrepreneurial success that means 10000 Start ups will need to be spawned to get 2500 large scale businesses.
However, start-ups face several challenges - limited availability of domestic risk capital, constraints of conventional bank finance, information asymmetry and lack of hand holding support from credible agencies.
A large majority of the successful Start-ups have been funded by foreign venture funds and many of them are locating outside the country to receive such funding.
A dedicated fund for carrying out Fund of Funds operations would address these issues and enable flow of assistance to innovative Start ups through their journey to become full fledged business entities.This would encompass support at seed stage, early stage and growth stage.
Government contribution to the target corpus of the individual Fund as an investor would encourage greater participation of private capital and thus help leverage mobilization of larger resources.

Japanese conglomerate SoftBank has named Ken Miyauchi, head of the group's Japanese telecommunications operations, as President and Chief Operating Officer (COO) on 22 June 2016.
The appointment came after Nikesh Arora had abruptly resigned from his position after it became clear that Chairman and CEO Masayoshi wanted to remain at the helm longer than first planned.
Ken Miyauchi : Before being named as President and COO of SoftBank, Ken Miyauchi led the Japanese telecommunications operations.He held 1101230 shares of SBG as of 31 March 2016.He joined SOFTBANK Corp. Japan in October 1984.
SoftBank : SoftBank Group Corporation is a Japanese multinational telecommunications and Internet corporation.It was established in Tokyo, Japan, on 3 September 1981.As of 2015, SoftBank was the 62nd largest company in the world based on a composite of sales, profit, assets and market value.

India's lone athletics World Championship medal winner Anju Bobby George has resigned as President of the Kerala Sports Council on 22 June 2016,fter she accused Sports Minister EP Jayarajan for allegedly harassing her and other members of Kerala Sports Council.
Besides the iconic athlete, 13 other members of the council, including noted volleyball player Tom Jose, also resigned.
She was appointed to the top post by the Oommen Chandy government in the year 2015. Anju became the first Indian athlete ever to win a medal in a World Athletics Championships in Paris in 2003.
Anju the winner of Arjuna awards has represented the country in the Olympics, Commonwealth Games, Asian Games and World Championships from 2002 onwards.
Anju Bobby George : Anju Bobby George is an Indian athlete. Anju Bobby George made history when she won the bronze medal in Long Jump at the 2003 World Championships in Athletics in Paris. With this achievement, she became the first Indian athlete ever to win a medal in a World Championships in Athletics jumping 6.70 m. She went on to win the Gold medal at the IAAF World Athletics Final in 2005, a performance she considers her best.
Anju has been upgraded to gold status from silver in the 2005 World Athletics Final in Monte Carlo following the disqualification of Tatyana Kotova of Russia by the International Association of Athletics Federations, following the recent re-testing of the latter’s sample collected at the 2005 World Championship in Helsinki.She was awarded Arjuna Award in 2002.

The World Bank Group has released the mid-year edition of India Development Update 2016 : Financing Double-Digit Growth on 20 June 2016. The report finds that India’s economy expanded at a faster pace in FY 2016.
It says that the economy was lifted to a higher growth path by demand from urban households and public investments, despite the fact that other key growth engines had stalled.
Highlights : It reviews the current challenges in India’s financial sector and analyzes some of the impacts of the recommendations of the 14th Finance Commission on Indian states.
Agriculture, rural household consumption, private investments, and exports have not performed to potential. The oil bonanza most directly benefited the government, which for the first time in five years exceeded its revenue collection targets and used the resources to contain the fiscal deficit. Capital spending by the central government was ramped up.
Urban households were the main drivers of growth in FY 2016. The manufacturing and services sectors, which expanded 7.4 and 8.9 percent, respectively, also created urban jobs. Inflation abated primarily because of lower food prices.
Lower inflation raised real incomes and allowed RBI to cut interest rates, which favored the financially-connected urban households.
To remain on this growth path and sustain growth at 7.6 percent into FY17, the challenge for the Indian economy is to activate the stalled engines that are agricultural growth, rural demand and trade.
The dissipation of the large boost from historically low oil prices in the past year will make this a challenging task, but prospects of a normal monsoon will help, the Update suggests.
It expects India’s economic growth to be at 7.6 percent in 2016-2017, followed by a modest acceleration to 7.7 percent in 2017-2018 and 7.8 percent in 2018-2019.
In less than three decades, India’s financial sector has evolved from an essentially state-controlled system toward one with greater participation of private banks and generally more competition.
Banks currently have capital levels in excess of regulatory requirements, regulations have been strengthened, and overall credit growth in real terms has been resilient. On the other hand, concerns have arisen about growing non-performing assets (NPAs) and declining credit growth, particularly in public sector banks (PSBs).
States are now responsible for 57 percent of the spending, which accounts for 16 percent of GDP. Of this, nearly 74 percent of the funds are untied, allowing more flexibility to states.Tax devolution increased everywhere, even for states that saw a reduction in their inter-state share, such as Bihar and Rajasthan.
Overall, transfer of grants to states increased by 0.7 percent of GDP in FY16 compared to the budget estimate of a net increase of 0.5 percent.Health and education expenditures increased in almost every state in FY16. Combined health and education expenditures increased in 13 of the 14 states for which data was available.
Uttar Pradesh spent over one-third of its additional resources on health and education. Rajasthan and Kerala stood out by spending the equivalent of over 70 percent of additional resources on health, education and infrastructure.
Two Key Reform Fronts for the Financial Sector : The Update suggests two key reform fronts for the financial sector. These are : First, accelerate the ongoing structural transformation of the sector toward one that is more market-oriented and competitive, for example relaxing government mandates on banks.
Second, address the NPA challenge, both by its branches and its roots.

NASA’s Kepler Space Telescope and its extended K2 mission allowed astronomers to discover the youngest fully formed exoplanet, K2-33b. The WM Keck Observatory on Mauna Kea, Hawaii also helped in discovery of this new found planet. Exoplanets are planets that orbit stars beyond our sun.
The finding was published online on 20 June 2016 in journal Nature.
Characteristic features of K2-33b : The planet K2-33b is nearly 10 times closer to its star than Mercury is to our sun, making it hot.
K2-33b is a bit larger than Neptune and whips tightly around its star every five days. It is only 5 to 10 million years old, making it one of a very few newborn planets found to date.
Two theories surrounding the discovery of K2-33b : The discovery of exoplanet K2-33b so close to its star has given the theorists new data point to ponder. They argue that the closeness of K2-33b could be explained either through the ‘theory of disk migration or the ‘theory of in-situ formation’.
As per the former theory, the exoplanet might have migrated so close in a process called disk migration that takes hundreds of thousands of years. On the other hand, later theory puts that planet might have formed in-situ – right where it is.
Found : The first signals of the planet's existence were measured by K2.The telescope's camera detected a periodic dimming of the light emitted by the planet's host star, a sign that an orbiting planet could be regularly passing in front of the star and blocking the light.
Data from the Keck Observatory validated that the dimming was indeed caused by a planet, and also helped confirm its youthful age.
Infrared measurements from NASA's Spitzer Space Telescope showed that the system's star is surrounded by a thin disk of planetary debris, indicating that its planet-formation phase is wrapping up.
Astronomers have discovered and confirmed roughly 3000 exoplanets since the discovery of first massive exoplant 20 years ago. However, nearly all of them are hosted by middle-aged stars, with ages of a billion years or more.

The research, published in the journal Azania : Archaeological Research in Africa in May 2016, highlighted that the bone tools were used for hunting, and even as poison arrow tips in eastern Africa over 13000 years ago.
These bone artefacts were discovered in the Kuumbi Cave in Zanzibar.
Kuumbi Cave : Kuumbi Cave is one of a group of caves that underlie a flight of marine terraces in Pleistocene limestone in eastern Zanzibar.
These caves are archaeological sites that include bones, stone tools, ceramics and many other cultural materials.The caves are extensively decorated with lime stone formations.
The animal life of the cave includes a large population of bats, fresh water birds and tropical birds. These caves were used by slave traders as hiding places after the trade was made illegal.
These caves are still used today for religious purposes but also for water supply to the village.

The Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
A number of such measures have been mooted by the tax department, to be undertaken this financial year, in order to curb the menace of large-scale tax avoidance and evasion.
As per a strategy paper prepared by the department, also accessed by PTI, the taxman will block PAN in such a way that these defaulters are not sanctioned any loans or overdraft facility by public sector banks, as the same is bound to become non-performing assets.
Ministry of Finance can be suggested to withdraw facility like LPG subsidy which is directly credited to the bank accounts of the said defaulters.
The taxman also proposes that the identities of such blocked PANs be circulated to the Registrar of Properties with a request for not allowing any registration of immovable properties where such PANs are involved.
Such defaulters' information has also been recommended to be circulated across tax offices so that their activities loans or government subsidy can be plugged country-wide .
The department has also decided to subscribe to the Credit Information Bureau Limited (CIBIL) data, on a possible payment basis, to check out the financial activities of defaulters and undertake action against them for recovery and freezing of assets.
CIBIL is an agency to collect and maintain records of an entities' payments pertaining to loans and credit cards.
The department, beginning last year, has also started to 'name and shame' large tax defaulters (over Rs 20 crore default) by publishing their names and other credentials in leading national dailies and on its official web portal.
Till now, 67 such entities have been put in public domain by the department. The IT department, beginning this financial year, has also decided to publicly name all category of taxpayers who have a default of Rs one crore and above.
Tax default is a major menace that the department is grappling with.These new measures are aimed to curb these instances in the right earnest .

South India Bank has announced the launch of its Remit2India Service.
It is a secure online money transfer service for NRIs.
The new arrangement facilitates faster, cost -effective remittance from the US to SIB accounts in India.
Currently, south Indian Bank’s facilitity is available for remmittance from Europe, Australia, UAE and Singapore.
South Indian Bank Limited : South Indian Bank Limited (SIB) is a private sector bank headquartered at Thrissur City in Kerala, India. South Indian Bank has 834 branches, 4 service branches,42 ext.counters and 20 Regional Offices spread across more than 27 states and 3 union territories in India. It has set up 1290 ATMs and 4 Bulk Note Acceptor/Cash Deposit Machines all over India.

Union Finance Minister Arun Jaitley has released a commemorative silver coin to mark the 300th martyrdom day of Sikh General Banda Singh Bahadur 22 June 2016.
Jaitley said there is a need to educate people about the rich history and tradition of Punjab, including iconic leaders like Banda Singh Bahadur.
Banda Singh Bahadur : Banda Singh Bahadur was a Sikh military commander.
At age 15 he left home to become an ascetic, and was given the name ‘’Madho Das’’. He established a monastery at Nanded, on the bank of the river Godavari, where in September 1708 he was visited by, and became a disciple of, Guru Gobind Singh, who gave him the new name of Banda Singh Bahadur. Armed with the blessing and authority of Guru Gobind Singh, he assembled a fighting force and led the struggle against the Mughal Empire. His first major action was the sack of the Mughal provincial capital, Samana, in November 1709. After establishing his authority in Punjab, Banda Singh Bahadur abolished the zamindari system, and granted property rights to the tillers of the land. He was captured by the Mughals and tortured to death in 1716.

As per the recently released 2016 World Investment Report, India ranks 10th in FDI (Foreign Direct Investment) inflows. As per the report, India’s FDI inflows have increased to 44 billion dollars in 2015 as compared to 35 billion dollars in 2014.
Highlights :
Top 10 Countries are : United States, Hong Kong, China, Ireland, Netherlands, Switzerland, Singapore, Brazil, Canada and India.
United States with 380 billion dollars FDI inflows has topped the list.
China with FDI inflows at 136 billion dollars (more than three times India’s FDI) in 2015 was ranked third. Globally, the FDI activity has increased by 38%,signalling revival in investment sentiments is on the cards. In terms of FDI outflows, there has been a decline in most developing and transition regions. However, in this case China is one of the exceptions.
Striking the right balance between regulation and liberalization to promote investment for sustainable development is also highlighted. Liberalization measures have been applied by eliminating or relaxing entry requirements in financial services, aviation, mining and real estate. Restrictions, on the other hand, have been imposed on the national security and related reasons.

The Indian Space Research Organisation (ISRO) is going to test indigenously developed scramjet engine technology based on air-breathing propulsion in July 2016. The test will be conducted on test platform named Advanced Technology Vehicle (ATV) from the Satish Dhawan Space Centre at Sriharikota.
Advanced Technology Vehicle : The test platform ATV will comprise a scramjet engine hitched to a two-stage sounding rocket (RH- 560). The vehicle has been characterised and being fabricated at the VSSC (Vikram Sarabhai Space Center) and the ISRO Propulsion Complex, Mahendragiri. The air-breathing engine of ATV will be released at a height of 70 km and ignited at hypersonic speed during the coasting phase. Apart from the hypersonic ignition at Mach 6, ATV’s capability to sustain the combustion for 5 seconds will be also tested. The test is expected to help ISRO to achieve good thrust value with the scramjet engine as maintaining combustion in hypersonic conditions poses technical challenges.
This test will be further advance stage of the successful test of the first indigenous Reusable Launch Vehicle-Technology Demonstrator (RLV-TD) conducted in May 2016. The post-flight analysis of RLV-TD test flight had shown encouraging results that had helped ISRO to understand the hypersonic aerothermodynamics of the delta winged body.

Six Indian World War I (WW-I) heroes became part of Britain’s new digital archive. The archive was launched as part of UK government’s centenary celebrations of WW-I and aims to tell the inspiring stories of war heroes on 20 June 2016.
The new Digital Archive was launched by Foreign and Commonwealth Office (FCO) to chronicle individual biographies of the war heroes. The new digital archive can be accessed through the UK government’s official gov.uk portal.
Indians Important Role :
Risaldar Badlu Singh from Punjab
Sepoy Chatta Singh from Uttar Pradesh
Naik Darwan Singh Negi from Uttar Pradesh (modern day Uttarakhand)
Lance Naik Lala from Himachal Pradesh
Rifleman Gabar Sing Negi from modern day Uttarakhand
Lance-Daffadar Gobind Singh from Rajasthan
These six Indian soldiers were part of some 175 men from 11 overseas countries who were awarded Britain’s award for valour, the Victoria Cross (VC), during the war. They were all awarded for their prominent bravery on the battlefield.
Earlier in 2014, these six soldiers were honoured in a commemorative plaque which was presented to India.
Besides India, the other 10 countries covered in the archive include Canada (70), Australia – (66), New Zealand (16), South Africa (14), the US (5), Pakistan (3), Nepal (2), Denmark (2), Belgium (1) and Ukraine (1).
August 2014 marked 100 years of First World War, the time when Britain entered into the war. The ongoing commemoration programme was announced in October 2012 by Prime Minister David Cameron.

The Maharashtra Cabinet has approved the minority status to Jew community. This decision will benefit the students from these communities to avail scholarships from the state government on 21 June 2016 .
How will Minority Status Benefit Jew community : After getting the minority status, the Jews in the state will be entitled to use benefits of government schemes meant for minorities and can also apply in educational institutions under the minority status.
The people of this community will now be able to easily get their marriage registrations done in Maharashtra.The Jewish people living in the state would now also be able to set up their own educational institutions and practice and promote their culture.
According to 2001 Census, the number of Jews living in India was 4650 with 2466 of them living in Maharashtra. The Jews have been a part of the Indian society for over 2300 years now.
The Jews of Manipur and Mizoram identify themselves as Beni Menashe. There are also some in Andhra Pradesh who call themselves Bene Ephraim Jews.
India is one of the few countries in the world where Jews have never faced any harassment or persecution. At present, there are six notified minority communities in India - Muslims, Christians, Buddhists, Sikhs, Parsis and Jains.

Union Government in June 2016 asked all state governments to link Aadhaar with caste and domicile certificates of school students.
Under first-of-its-kind initiative, the states have been asked to ensure that such certificates are issued within 60 days time to the students when they are studying either in Class V or VIII.
Why the direction was given : To make sure that the scholarships will be granted on time to students belonging to Scheduled Caste and Scheduled Tribes and without causing any harassment to SC/STs students. There have been complaints of delay in grant of scholarships and harassment.
Objective : To facilitate access of bona fide candidates belonging to Scheduled Castes and Scheduled Tribes to the reserved posts and services under the State or Central governments.
To secure admission in educational institutions and get other facilities.
School head or the principle will be responsible to collect the documents of the students. The issued certificate will be provided to students in cellophane cover, as far as practicable, through the school authorities. It would be kept with the students for safe custody for availing the benefits or concessions and facilities available to the category of students concerned.
Aadhaar : Aadhaar is a 12-digit number which acts as a proof of identity and address, anywhere in the country. It is issued by Unique Identification Authority of India (UIDAI) to every resident of the country.
It was developed with an objective of collecting the biometric and demographic data of the residents of the country, which is stored in a central database.It is considered the world's largest national identification number project.

The book titled A Life in Diplomacy was in news in the third week of June 2016. The book was written by former Indian diplomat Maharajakrishna Rasgotra.
It is an insider's account of the personalities and policies that shaped Indian diplomacy.
The book provides a ringside view of the beginnings of ethnic violence in Sri Lanka, the last years of the Cold War, the negotiations on the formation of SAARC, Indira Gandhi's assassination and the Bhopal gas disaster.
Maharajakrishna Rasgotra : He joined the Indian Foreign Service in 1949 and rose up to the rank of Foreign Secretary. In a long and distinguished career, he held several important posts in Indian diplomatic missions abroad and in the Ministry of External Affairs.
For over three decades Rasgotra's assignments took him to Nepal, Britain and France, among other countries, as well as twice to the United States.He also worked as the Chairman of the National Security Advisory Board between 2005 and 2007.
His other books include – America in the Asian Century, The New Asian Power Dynamic and Science and Technology in China: Implications and Lessons for India.

India and the UAE will set up a joint panel of parliamentarians to enhance relations and facilitate their visits to promote cooperation to tackle security issues and challenges facing the region.
A decision was taken in this regard during a meeting between first woman speaker of UAE's Federal National Council (FNC) Amal Abdullah Al-Qubaisi and the Indian ambassador .
During the meeting, Al-Qubaisi stressed the importance of activating parliamentary relations between FNC and Indian parliament by establishing a friendly Emirati-Indian parliamentary committee, and by prompting parliamentary visits between the two sides.
The two sides stressed the importance of consultation and coordination between FNC and Indian parliament delegations during their participation in the Inter-Parliamentary Union in order to unify positions and views on various issues of interest to both countries and peoples.
They also agreed to prepare a draft Memorandum of Understanding (MoU) for the establishment of the parliamentary committee, and highlighted existing areas of cooperation in various political, economic, cultural and investment sectors.
India has a deep-rooted democracy in the world and serves as a model for a constitution based on democracy, pluralism, and women's political participation.
Prime Minister Narendra Modi visited the UAE in August last year, during which the two countries elevated their ties to a comprehensive strategic partnership.
India and the UAE agreed to boost bilateral cooperation in counter-terrorism operations, intelligence-sharing and capacity building during Modi's visit.

Noted Telangana poet and lyricist Guda Anjaiah died on 21 June 2016 at his house at Ragannagudem, Telangana following a brief illness. He was 61. He is survived by three daughters.His songs both regaled and incensed supporters of statehood movement
Guda Anjaiah : Anjanna was famous for his song Ooru manadi ra, ee vada manadi ra which was translated into multiple languages. He played a key role in Telangana movement, penning several songs that also found their way into films.
His songs Rajiga ori Rajiga and Ayyoniva nuvvu avvoniva were played in Poru Telangana film based on Telangana movement during 2009-11.His novel Polimera described the dark days of 1975 Emergency.
Anjaiah was born in Lingapuram village of Dandepalli mandal in Adilabad district in 1955.

Indian Space Research Organisation (ISRO) has launched a record 20 satellites in a single mission from the Satish Dhawan Space Center in Sriharikota, Andhra Pradesh on 22 June 2016.
With this launch of 20 satellites, ISRO also managed to break its previous record of placing 10 satellites into orbit in a single mission in 2008.
The 20 satellites including India’s latest earth observation satellite Cartosat-2 was launched on-board Polar Satellite Launch Vehicle PSLV C-34. The other 19 satellites were from the US, Germany, Canada and Indonesia as well as two satellites from Sathyabama University, Chennai, and the College of Engineering, Pune.
Cartosat-2 Series Satellite : The Cartosat-2 series satellite is the primary satellite carried by PSLV-C34. This satellite is similar to the earlier Cartosat-2, 2A and 2B. After its injection into a 505 km polar Sun Synchronous Orbit by PSLV-C34, the satellite will be brought to operational configuration following which it will begin providing regular remote sensing services using Panchromatic and Multispectral cameras.
The imagery sent by the satellite will be useful cartographic applications, urban and rural applications, coastal land use and regulation, utility management like road network monitoring, water distribution, creation of land use maps, precision study, change detection to bring out geographical and manmade features and various other Land Information System (LIS) and Geographical Information System (GIS) applications.
Other satellites included :
LAPAN A3 of Indonesia : The micro-satellite will be used for earth surveillance and magnetic field monitoring.
BIROS from Germany : This is meant for remote sensing of high temperature events.
SKYSAT GEN 2-1 from US : It will be used for earth imaging.
Maritime Monitoring and Messaging Microsatellite (M3MSAT) from Canada : This micro-satellite of Canada will be used for collection and study of automatic identification system signals from low earth orbit.
Cartosat-2 along with its 19 co-passenger satellites together weighing about 560 kg at lift-off was injected into a 505-km polar Sun Synchronous Orbit.
According to ISRO, the total weight of all the 20 satellites was about 1288 kg.

To commemorate the 2nd International Day of Yoga, Andhra Pradesh Postal circle on 21 June 2016 released “Information booklet, Stamps on Yoga” and “12 stamps on Suryanamaskarams”.
The booklet contains illustrations and description of 24 yoga asana (postures). It also provides a brief description on the various Yoga postures depicted in the original Stamps.
The booklet contains four Commemorative stamps released in 1991 on various yoga postures-- Bhujangasana, Dhanurasana, Ushtrasana and Utthita Trikonasana.
The booklet and stamps were released to encourage customers and employees to take to yoga. He said the special stamps are limited edition collection which will interest philatelists.

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